1. What is the SWIFT CSP?
SWIFT's customer security programme (CSP) aims to detect and prevent fraud by means of mandatory security checks, common initiatives and extensive security features in its products.
2. What is the deadline for SWIFT CSP compliance?
You must submit a certificate before the end of December 2017. You are subsequently obliged to share the results with the wider FS community from 1 January 2018, in accordance with the controls baseline.
3. What are the 16 mandatory SWIFT CSP checks?
There are 16 mandatory checks, which principally focus on: securing your SWIFT environment, managing and limiting access, and detecting and responding to breaches.
4. What happens to non-compliance cases?
SWIFT checks randomly-selected members of the SWIFT network, and reports all non-compliant organisations to industry regulators such as the Financial Conduct Authority.
5. What happens if I suspect that my organisation is a target, or is breached?
It is important that you share all relevant information and that you inform SWIFT as rapidly as possible if there is a problem, to protect other organisations in the network.